Power Grid Corporation bags inter-regional transmission project on BOOT basis

State-owned Power Grid Corporation of India Ltd (POWERGRID) on Monday (December 15) said it has been declared as the successful bidder under the tariff-based competitive bidding (TBCB) process to establish

an inter-state transmission system for the project titled "Inter-Regional Strengthening between SR Grid and ER Grid."

The project will be developed on a build, own, operate and transfer (BOOT) basis. POWERGRID said it received the letter of intent for the project on December 15, 2025.

The scope of the project includes the establishment of 765 kV double-circuit transmission lines traversing the states of Odisha and Andhra Pradesh. The project also involves associated line bays and reactor works at both ends of the transmission system.

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Back in November this year, Power Grid Corp of India said its board committee has approved raising up to ₹3,800 crore through a private placement of unsecured taxable bonds.

The state-run power transmission utility said the POWERGRID Bonds – LXXXIII (83rd Issue) 2025-26 will have a base size of ₹1,000 crore and a green-shoe option of ₹2,800 crore.

The bonds will be listed on the BSE and NSE and will be redeemable at par in 10 equal annual instalments, with interest payable yearly, the company said. The coupon rate will be determined through bidding on the Electronic Book Provider platform. The bonds will be unsecured and carry no special rights or privileges, Power Grid added.

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Shares of Power Grid Corporation of India Ltd ended at ₹262.15, down by ₹1.45, or 0.55%, on the BSE.